Appendix
Schedule A: Changes to tax-funded items 2019-2023
March 19, 2019Page 271 section
A detailed table showing proposed increases and decreases to various tax-funded departmental budgets.
$89,104 reduction in fire rescue truck replacement internal debt repayment$50,000 annual contingency reduction funded from surplus
Schedule A Changes to tax-funded items 2019-2023 Financial Plan Approval
Budget workshop sessions February 19-21 and 26, 2019
2019-2023 Financial Plan published February 11, 2019
| Description | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Tax revenue from existing assessments | 8,026,571 | 8,852,732 | 9,318,340 | 9,624,665 | 9,972,328 | 10,163,149 |
| Estimated tax revenue from new construction | 121,217 | 245,994 | 100,000 | 100,000 | 100,000 | 100,000 |
| Total property tax revenue required | 8,147,788 | 9,098,726 | 9,418,340 | 9,724,665 | 10,072,328 | 10,263,149 |
| % increase | 0.92% | 8.40% | 2.39% | 2.17% | 2.52% | 0.89% |
Changes to tax-funded items
Tax requirement increase (decrease)
| Item | Item description | Account or PS reference | 2019 | 2020 | 2021 | 2022 | 2023 | Comments |
|---|---|---|---|---|---|---|---|---|
| 1 | Welland legacy park community event | N-48 | (2,500) | - | - | - | - | |
| 2 | Fire rescue truck replacement | C-06 | (4,500) | (89,104) | (89,104) | (89,104) | (89,104) | Remove internal debt repayment |
| 3 | Information signs - three locations | C-23 | - | - | (300) | (300) | (300) | Remove project; remove incremental operational cost |
| 4 | Vadim iCity Utility Billing module | C-71 | - | (3,000) | (3,060) | (3,125) | (3,200) | Fund from Sewer Capital, ongoing from sewer user fees |
| 5 | Six mile corridor study | C-18 | (15,000) | - | - | - | - | |
| 6 | 2009 Chevy Tahoe replacement | C-61 | (1,500) | (1,500) | (1,500) | (1,500) | (1,500) | Remove incremental operational cost |
| 7 | Island Hwy protected walking path | C-75 | 200 | 200 | 200 | 2,000 | Add project; not included in original budget numbers | |
| 8 | Heddle trail to Prince Robert Dr | C-19 | (500) | Defer project to 2020 | ||||
| 9 | Future operating expenditures contribution | (260,959) | Fund from Casino revenue instead of taxation | |||||
| 10 | Reduce revenue per Fortis BC notice | 00340-123 | 8,950 | Reduce revenue estimate per new information | ||||
| 11 | Changes to policing ops budget-VR share | 4,724 | 11,107 | 10,698 | 10,453 | 9,920 | Adjust estimates per new information from Langford | |
| 12 | Defer internal debt repayment for 2021 fire fleet equipment replacement | (108,158) | Defer project to 2022 | |||||
| 13 | Town hall exterior repairs | N-46 | (19,000) | - | - | - | - | Fund from surplus instead of taxation |
| 14 | Atkins Road drainage rehab study | N-35 | (15,000) | - | - | - | - | Fund from surplus instead of taxation |
| 15 | Six mile corridor study | C-18 | (15,000) | - | - | - | - | Fund from surplus instead of taxation |
| 16 | Contingency | 01400-300 | (50,000) | (50,000) | (50,000) | (50,000) | (50,000) | Fund from surplus instead of taxation |
| 17 | Reduce capital renewal reserve contribution | (40,000) | Reduce contributions to meet 3.5% tax increase target | |||||
| Total | (409,785) | (132,797) | (133,066) | (241,534) | (132,184) |
2019-2023 Financial Plan, as revised
| Description | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Revised property tax revenue requirement | 8,026,571 | 8,442,947 | 9,185,543 | 9,491,599 | 9,730,794 | 10,030,965 |
| Non-market change estimate | 121,217 | 245,994 | 100,000 | 100,000 | 100,000 | 100,000 |
| Revised total property tax revenue | 8,147,788 | 8,688,941 | 9,285,543 | 9,591,599 | 9,830,794 | 10,130,965 |
| Revised % increase | 3.52% | 5.65% | 2.20% | 1.44% | 2.02% |
Page 27
Extracted from: 2019 03 19 Council Agenda - Agenda - Pdf